Edgestream Partners L.P. Sells 71,528 Shares of N-able, Inc. (NYSE:NABL)

Edgestream Partners L.P. lessened its stake in shares of N-able, Inc. (NYSE:NABL) by 24.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,617 shares of the company’s stock after selling 71,528 shares during the quarter. Edgestream Partners L.P.’s holdings in N-able were worth $2,920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NABL. Scalar Gauge Management LLC acquired a new stake in shares of N-able in the 2nd quarter worth about $10,650,000. Applied Fundamental Research LLC raised its holdings in shares of N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after acquiring an additional 664,198 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP raised its holdings in shares of N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after acquiring an additional 226,532 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after acquiring an additional 200,095 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Trading Up 1.6 %

NYSE:NABL opened at $10.44 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 52.20 and a beta of 0.47. N-able, Inc. has a 52 week low of $9.98 and a 52 week high of $15.48. The firm has a 50-day moving average price of $11.92 and a two-hundred day moving average price of $12.98.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. On average, equities analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Friday, November 22nd. BMO Capital Markets lowered their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of N-able in a report on Thursday, November 21st.

N-able Company Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.